Tuesday, May 23, 2017. 12:17

CTP acquires Rozália Park in Biatorbágy

pr

Real estate firm CTP has acquired the 57,800 sqm logistics scheme Rozália Park from Challenger, at Biatorbágy to the west of the capital, as a continuation of its expansion in the Hungarian market, according to a press release sent to the Budapest Business Journal by Cushman & Wakefield, which brokered the acquisition.

(Photo illustration)

“Hungary’s logistics sector has the strongest dynamics in Central Europe in terms of rental growth prospects, supply, vacancy rates and potential for yield compression. This is being increasingly recognized by investors, as demonstrated by this transaction,” said Mike Edwards, Head of Valuation & Advisory for Central Europe at Cushman & Wakefield.

“CTP is very excited about this acquisition. We entered the Hungarian market two years ago in order to offer domestic and international companies space for warehousing and manufacturing,” said CTP CEO Remon L. Vos.

CTP acquired the neighboring WestLog Distribution Center last year, which was rebranded CTPark Budapest West. CTP’s portfolio currently stands at 360,000 sqm of lettable area in the country, but it is growing its footprint through acquisitions and the simultaneous construction of new properties in Győr, Tatabánya and Budapest, said the press release.

Analysis

Hungarian Journalists, Copywriters Not Afraid of Losing Jobs to ChatGPT

Innovation

AI Plays ‘Key Role’ in Development Policy Decisions – Minister

Ratings

Moody’s Assigns Baa2 Rating to Hungary’s Yen-Denominated Bonds

Awards

Opus Jazz Club Gets Prestigious European Award

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.